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Thread: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    It's more of a valid comparison to compare Costco to Sam's Club than it is to Costco and Walmart though.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by trfjr View Post
    because if one gas station on that corner lowers its price to satisfy the consumers demand for cheaper gas the other will have to follow or have no costumers
    Some stations sell gas by convincing consumers that theirs is better, or being in a more convenient spot, or brand loyalty. I have an app on my smartphone that gives gas prices for local stations. it's called "gas buddy", and if you don't have one, you should . It's a free app. Currently, it's showing regular for $3.78 to $4.19, depending on where you decide to go.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    I do think a lot of companies do themselves a disservice by paying low and not contemplating going above typical market value. The market dictates things, but if I ever ran my own pharmacy I would pay my techs about $2-3 above the norm largely due to the fact that I've seen how well a pharmacy can operate when the staff are trained. If you get paid a lower wage you have a higher incentive to leave, paying at a higher wage keeps good employees there doing a more efficient job. It may look like more an expense on paper but efficiency is worth it and I would venture to say that running things more efficiently and not having to constantly train new hires would make things better (and cheaper) in the long run too.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by Dittohead not! View Post
    I'm a fan of Costco.


    They may not have as many employees as WalMart or Target, but they have better ones.
    They have the best prices on quality goods that can be found anywhere. The only reason not to buy from Costco is that their containers are so big you'll never use all of the product. For things you use all the time, they're hard to beat.

    Our (bleep!)ing city council blew a chance to have a Costco here in town. I haven't forgiven them for that, and may never.

    But, we have three within a half hour drive, which isn't too bad.
    I hardly go to wal mart because it lacks in quality. I especially hate buying fresh produce there.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by poweRob View Post
    Ever
    been in a Trader Joe's? Small stores PACKED to the brim with employees. They tend to not have an overnight shift and stock during the days so that you always have someone nearby to ask for help rather than running down loads of aisles trying to find someone who may or may not know where something is. Also, you damn near never see an empty unattended cash register.

    Unlike my Albertson's grocery store here where you can't find a soul in the store except the two or three at a cash register and at 5:30pm when the lines back up down the store's aisles due to the after work rush. Then of course you go to the customer service counter for something and no one is ever there and they have to be paged.
    And stuff at Trader Joe's can be really expensive. They compete on quality and healthy choices, not low prices.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by SheWolf View Post
    And stuff at Trader Joe's can be really expensive. They compete on quality and healthy choices, not low prices.
    Not all. My wife likes fruit/nut mixtures and she gets them there because they are vastly cheaper than at the chain grocer here.
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by digsbe View Post
    I do think a lot of companies do themselves a disservice by paying low and not contemplating going above typical market value. The market dictates things, but if I ever ran my own pharmacy I would pay my techs about $2-3 above the norm largely due to the fact that I've seen how well a pharmacy can operate when the staff are trained. If you get paid a lower wage you have a higher incentive to leave, paying at a higher wage keeps good employees there doing a more efficient job. It may look like more an expense on paper but efficiency is worth it and I would venture to say that running things more efficiently and not having to constantly train new hires would make things better (and cheaper) in the long run too.
    Go run your own pharmacy and get back with us.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by poweRob View Post
    So much for the notion our economy is being destroyed because lazy Americans are overpaid. Not to mention, unlike WalMart, Costco employees don't qualify for food stamps and soak up $2.66 billion in taxpayer subsidies to run their business. Amazing ain't it?

    Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    A typical Costco worker made $45,000 in 2011, according to Fortune. Thatís compared to Samís Club workersí average salary of $17,486 per year, according to salary information site Glassdoor.com. Walmart has also been the target of protests by some of its workers, who are protesting what they say are the companyís low wages.

    The big box giant's profit jumped 19 percent to $459 million last quarter, thanks in part to the companyís efforts to offer discounts to lure more members, according to Bloomberg. The company was able to offer those discounts and boost its profits while paying its workers a decent wage, a claim many of Costcoís competitors canít make.

    Nor can Costco's competitors claim growth quite like the wholesale retailer. Walmartís sales suffered last quarter as shoppers struggled with a delay in their tax refund checks and a payroll tax hike. The companyís Samís Club unit, which is comparable to Costco, contended with similar obstacles in 2012.

    Target, another Costco competitor, lowered its earnings forecast for the year, after customers cut back, pushing the retailerís profits down 29 percent.
    Ahh yes but the minimum wage shouldn't be raised. *rolls eyes*
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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    I don't like Walmart cause the stores are so freaking big, and the aisles can easily get.crowded with carts and people standing around.

    I really sucks if you need to go in to get just a few things. Even when I do that, the 20 items or less line can be busy. It's much easier to just go to Aldi.

    Some Walmart workers have also told me that the roofs tend to leak and have problems from the water pooling.

    I heard that Walmart was thinking about testing some smaller, General Dollar type of stores. That doesn't surprise me.

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    Re: Costco's Profit Soars To $459 Million As Low-Wage Competitors Struggle

    Quote Originally Posted by poweRob View Post
    So much for the notion our economy is being destroyed because lazy Americans are overpaid.[/INDENT]
    Costco employees don't look lazy to me (except for the blue marker police at the exits, of course..... what a sweet deal they have!).

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